ASIC Corporations (Design and Distribution Obligations—Exchange Traded Products) Instrument 2020/1090 (Cth)

ASIC Corporations (Design and Distribution Obligations—Exchange Traded Products) Instrument 2020/1090 I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 10 December 2020

Grant Moodie

Contents

Part 1—Preliminary 1 Name of legislative instrument 2 Commencement 3 Authority 4 Definitions Part 2—Declaration 5 Exchange traded products 6 Application

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Design and Distribution Obligations—Exchange Traded Products) Instrument 2020/1090.

2 Commencement This instrument commences on the later of: (a) 5 October 2021; and (b) the day after it is registered on the Federal Register of Legislation. Note: The register may be accessed at www.legislation.gov.au.

3 Authority This instrument is made under subsection 994L(2) of the Corporations Act 2001.

4 Definitions In this instrument: Act means the Corporations Act 2001. exchange traded fund means a scheme or foreign company that satisfies all of the following: (a) is: (i) a registered scheme or a managed investment scheme that is not required to be registered under Chapter 5C; or (ii) a foreign company which has the economic features of a managed investment scheme and is an open-ended investment company registered with the U.S. Securities and Exchange Commission under the Investment Company Act 1940 of the United States of America; (b) exchange traded products of the scheme or foreign company are in a class that are, or will be, able to be traded on a licensed market; (c) the operator of the scheme or the foreign company has the power and approval to issue exchange traded products in that class on any day that those financial products are able to be traded on the relevant financial market; (d) the operator of the scheme or the foreign company allows applications for and redemptions of exchange traded products in that class; (e) the price or value of the financial product, index, currency, commodity or other thing that the scheme or foreign company invests in or tracks is continuously disclosed or can be immediately ascertained. exchange traded product, in relation to an exchange traded fund, means: (a) for an exchange traded fund covered by subparagraph (a)(i) of the definition of exchange traded fund—an interest in the exchange traded fund; or (b) for an exchange traded fund covered by subparagraph (a)(ii) of the definition of exchange traded fund—a share in the exchange traded fund; or (c) a legal or equitable right or interest in a financial product covered by paragraph (a) or (b). Regulations means the Corporations Regulations 2001.